Best real estate gaming and lodging groups on the street??

Based on the most helpful WSO content, here’s what you need to know about the best real estate, gaming, and lodging (REGL) groups:

Top Bulge Bracket (BB) Banks for REGL:

1. BAML (Bank of America Merrill Lynch): Consistently recognized as a dominant player in REGL. Strong deal flow and reputation.
2. JPMorgan (JPM): Another top-tier bank with a strong presence in real estate and gaming/lodging.
3. Citi: Known for its expertise in real estate, particularly with REITs and capital raising.
4. Goldman Sachs (GS): Active in real estate and gaming, with a focus on larger deals.
5. Morgan Stanley (MS): Covers real estate and gaming, with a strong reputation in capital markets.

Boutique Banks and EBs:

1. Green Street Advisors: A standout boutique specializing in real estate research and advisory.
2. Moelis: Generalist coverage but has notable activity in media and gaming.
3. Lazard: While not a dominant player in real estate, they’ve recently added a new Video Game MD, signaling interest in gaming.
4. Houlihan Lokey (HL): Strong in restructuring and M&A, particularly in niche areas like gaming and lodging.
5. Evercore: Known for high-quality advisory work, though less active in real estate due to limited balance sheet capabilities.

Key Considerations for Versatility:

• Bulge Brackets: Offer broader exposure to capital markets, M&A, and lending, making them ideal for gaining versatile experience.
• Boutiques/EBs: Focus more on advisory and M&A, which can be beneficial if you’re targeting a career in private equity or specialized advisory roles.

If you’re interested in gaming specifically, consider boutiques like LionTree, Raine, and Aream, which have dedicated gaming teams and expertise.

For networking, prioritize banks with strong REGL groups like BAML, JPM, and Citi, while also exploring boutique options for niche opportunities.

Sources: Best Real Estate/Gaming & Lodging Groups On The Street, Video Game IB/VC/PE, https://www.wallstreetoasis.com/forum/investment-banking/strong-sectorsindustry-by-ebs?customgpt=1, Real Estate Q&A, Real Estate Restructuring?